Search Results for: Sri Lanka

HONG KONG and Saudi Arabia has struck an agreement on avoiding double taxation so any Saudi Arabian tax paid by Hong Kong companies will be credited against tax payable on the same profits in the special administrative region. The same would apply to Saudi companies paying tax in Hong Kong.…

SRI Lanka’s Bandaranaike International Airport (BIA), at Katunayake, near the capital Colombo, has received its first A380 Airbus arrival. An Emirates flight from Dubai landing on BIA’s recently resurfaced and upgraded runway. The A380 replaced the usual B777 aircraft Emirates flies to Sri Lanka, allowing airport executives, senior politicians, trade partners and media to tour the plane.…

AS Ethiopia rapidly emerges as a key clothing and textile hub of Africa, the country has been making impressive strides as a knitwear manufacturing and sourcing centre, attracting the attention of global clothing majors.

“International buyers are beginning to buy knitted clothes from Ethiopia including Zara, Tesco, H&M [Hennes & Mauritz] and Decathlon,” said Fassil Tadesse, president of the Ethiopian Textile and Garment Manufacturing Association (ETGAMA).…

EXECUTIVES within Sri Lanka’s apparel sector predict its exporters can generate an additional USD400 to USD500 million in annual sales because of the country regaining the Generalised Scheme of Preferences Plus (GSP+) trade concession with the European Union (EU).

This happened on May 19, (2017), almost seven years since Sri Lanka lost this trade access status (in August 2010) because of human rights violations during the previous government of ex-President Mahinda Rajapaksa.…

Just days since floods and landslides ravaged parts of Sri Lanka, the country’s apparel manufacturers are warning they may need more time to honour current orders, but predict the sector will recover so that 2017 export receipts are not seriously affected.…

Demand is growing for a major international programme designed to support developing countries build up their tax audit capacity and – critically – the funding is there to meet that need. Launched as a joint initiative of the Organisation for Economic Co-operation & Development (OECD) and the United Nations Development Programme (UNDP) in July 2015 after an initial pilot phase, Tax Inspectors Without Borders (TIWB) sees tax experts work side-by-side with local officials in developing and emerging markets.…

THE PLANNED introduction of mandatory audit firm rotation (MAFR) by the South African Independent Regulatory Board for Auditors (IRBA) has sparked widespread dissention within the country’s business and accounting communities This is despite that the reform’s goal is to strengthen auditor independence and audit quality and that there are some calls for the move to be brought forward from the current introduction date of April 1, 2023.…

A MALAYSIAN government scheme encouraging foreign investors to buy property in Malaysia may have led to thousands of Bangladeshis breaching their country’s strict capital control restrictions.

A total of 3,493 Bangladeshis has participated in the Malaysia My Second Home (MM2H) long-term residency programme since 2003, according to statistics updated in December (2016) – 10.7% of all investors taking part worldwide.…

The demand for processed and packaged food is growing fast among India’s young, often aspirational and fast-expanding population. And this has made Nestlé India target a double digit annual growth in upcoming years. To realise this goal, the company is steadily introducing premium international products into India, such as its impending launch of Alpino chocolates this month (October 2016).…

A KEY women’s business group in Pakistan has voiced concerns about a fall in textile exports from the country, given the industry is not only the largest foreign exchange earning sector of the country, but a key employer of female workers nationwide.…